Economy

Japan's Q1 GDP revised up marginally to annualized 1.8% contraction

Consumption remains sluggish despite wage hikes

20240610 GDP

Japan's economy remains weak as consumer spending continues to slide. (Photo by Yuji Murakami)

CHIHIRO ISHIKAWA, Nikkei staff writer
June 10, 2024 09:24 JST
Updated on June 10, 2024 11:14 JST

TOKYO -- Japan's economy shrank at an annualized 1.8% from January to March compared to the previous quarter, according to revised figures released Monday by the Cabinet Office, up from a 2% drop announced last month.

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